Last week’s contracting GDP figures and gloomy economic predictions were disappointing for industry to say the least. However Executive Office Group’s own experience points to a different, much more positive outlook and with results from the serviced office sector traditionally seen as a precursor to future economic conditions, this could be good news for the wider economy.
EOG’s Q4 results further the overall growth recorded in the serviced office sector over the course of 2010 – their wider customer base grew by 20%. In the past week alone, in which healthy levels of banking bonuses marked a renewed confidence in the financial sector, they recorded their largest number of office viewings and general enquiries since 2008; over 70% of which came from individuals and start-ups operating in the financial sector.
John Drover from EOG suggests that the message to industry in the context of serviced office performance is that there is light at the end of the tunnel. With entrepreneurship and start-ups critical to economic growth, the indication emerging from this implies that there are reasons to be cheerful as we move through Q1 2011.